Digital currencies

Large banks explored the concept more than five years ago before quietly moving on. The advent of stablecoins and general acceptance of blockchains have helped make it more practical for some regionals.

A well-intentioned report from federal banking regulators was flawed in recommending that only insured depository institutions be permitted to issue stablecoins. Here's why.

David Marcus, Facebook's financial services chief, discusses how its Novi digital wallet and the Diem stablecoin project it's involved in can be the backbone of a platform that offers real-time digital transactions, acts as a merchant acquirer and helps commercial banks handle central bank digital currencies.

The Federal Reserve has been circumspect about whether it will issue its own digital currency. Observers are looking to an upcoming report by the central bank for clarity about its intentions and how a digital dollar would work with private stablecoins.

The IRS and Justice Department waged a successful campaign to crack down on UBS and other Swiss banks for facilitating tax evasion. Coinbase, Kraken and other crypto exchanges should take note.

Walmart is looking to hire a cryptocurrency expert to develop a blockchain strategy, joining a growing number of major corporations exploring the viability of digital currencies such as bitcoin.

As the Federal Reserve mulls the idea of issuing a digital currency, some industry representatives are already sounding the alarm. Their main concern is a new regime for storing cash will reduce demand for bank deposits.

Western central banks trying to develop sovereign cryptocurrency models face pushback from lawmakers and other obstacles, while the digital yuan has a much clearer path.

The president's working group on financial markets met in advance of a report expected within months on growth in digital currencies pegged to the U.S. dollar.

As the Federal Reserve mulls whether to establish its own digital currency, Chair Jerome Powell told lawmakers that cryptocurrencies designed to have the stability of bank deposits and money market funds should be regulated accordingly.